At the Reuters Tech Summit, Trulia chief executive Pete Flint says private equity investors are starting to pull back from buying U.S. real estate, while overseas buyers are coming on strong once again. Video
WASHINGTON - Small business optimism rose to a one year-high in May, a hopeful sign for an economy that has hit a soft patch.
BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.
Marathon Oil in talks to sell Alberta oil sands stake
(Reuters) - Marathon Oil Corp said on Wednesday it is in negotiations to sell a portion of its 20 percent stake in the Athabasca Oil Sands Project in Canada as part of a strategy to shed less profitable assets.
Marathon and a number of other exploration and production companies, including ConocoPhillips, have put billions of dollars of oil and gas properties up for sale in a bid to focus capital on projects that generate higher returns.
No sale of the non-operated Athabasca interest can be assured, Houston-based Marathon said.
Earlier this month, sources with knowledge of the matter told Reuters that Indian state-run exploration company Oil and Natural Gas Corp planned to approach Marathon about buying half of its interest in the Athabasca Oil Sands Project in northern Alberta.
A spokeswoman for Marathon declined to comment on the oil sands negotiations.
Marathon, which spun off its refining business last year, has said it expects to raise up to $3 billion in asset sales through 2013. So far, it said, it has agreements totaling $1.1 billion.
That figure includes the pending sale of its Alaska Cook Inlet assets for $375 million to privately held Hilcorp. Also for sale are 100,000 "non-core" acres in the Eagle Ford Basin in South Texas, where Marathon is drilling for oil.
Shares of Marathon rose 10 cents to $29.66 in morning trade on the New York Stock Exchange.
(Reporting by Anna Driver; Editing by Peter Galloway and Leslie Adler)
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